If you are 30 years old or older you need to stop renting IMMEDIATELY!

Forget that homeownership is the American Dream.

Forget that you like where you live and you can afford it.

Forget that you are living with your parents and it’s free.

Otherwise; you can forget about having a pleasant retirement.

All the news  is out.  They’ve been telling us for years to save, to invest, and now that the economy has been in the dumps for the past 6 years it is more important than ever to Stop Renting.

Yep another blog about Retirement, but with a twist.

If you cannot save, or your company doesn’t have a 401K, or you can’t afford to contribute to your 401K, or you have an IRA, or don’t have a huge inheritance coming to you then you need to buy property.  It can be your home or an investment property, but you need to “invest” in your retirement.  You have 30 yrs to pay for this investment.  An investment that grows over the years, that you have control over, that you can actually touch everyday, and will be there when you retire.

If you are young and can’t afford it on your own then get roommates,  get a second job!  When we are young we have all the time in the world.  I was young once, and then time started doing double time on me.  Look around at your family, parents, your friends parents.  When you were young they were doing great right?  Now what is happening?  Many don’t have any extra cash.  BUT they do have their home.  A home they have been paying on for 30 years, that can now pay them back.  See the thing is once you get older you don’t have time to “make-up” lost income, or lost stock market investments.  You’ve already put in your time, you are done!

It’s tough I know.  Jobs these days.  I’m talking about jobs where you work for someone else.  There are not a lot of jobs out there.  It’s hard to get full time work.  You can do it.  I see 55 yr olds who have not saved at all or not enough for retirement.  They wanted to retire at 65.  Well, for 7 in 10 households these people are going to have to work longer, much longer.  If they own a home and have diligently paid their mortgage every month with taking equity out of it like an ATM machine then they quite possible could have money for retirement.

Whether you rent or own you have to make a payment every month.  You can make it for 30 yrs if you own or you can make it for the rest of your life if you rent.  I have not heard of any landlords that will give you back your rent if you’ve loyally been paying him for 30yrs.

You don’t know what you can afford to buy until you sit down with a Mortgage Consultant, and put a plan in place.   Maybe it won’t be this year, but have a goal of less than 3 yrs to purchase.  It’s an hour of your time today, but it could be how you live the rest of your life!